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JamesSM
1 Comment
American Express Drops a Bomb on Consumer Spending [view article]
Excellent post Marty. Inflation is definitely the main culprit of the pain many Americans are feeling. The CPI does not give a true picture of the inflation that Americans are experiencing. I'm down in Sunrise Florida, a suburb of Fort Lauderdale and one of the epic centers of the sub-prime mess, and can tell you that people are definitely pulling back on spending. Our malls are still full but many of the people spending are tourist and snow birds flushed with cash from their strong currencies. The shopping centers frequented by the locals are losing tenants and are down on traffic. As for the job market, if you aspire for a very low paying retail or customer service rep job, then it is great but good high paying jobs are very hard to find and extremely competitive. Experienced, college educated workers are a dime a dozen down here. Jan 12 10:13 AM